Anna's Blog

With interest rates at an historic low, many of my clients are asking about refinancing their homes and when to know if it is worth it.  The rule of thumb is that if you can recoup your closing costs within a year by the monthly savings from the lower rate, then it is worth it to refinance.  Typically this means the rate should be 0.75 to 1.0% lower than the rate you have currently.  Please note that the lenders, appraisers and title companies are incredibly busy right now with the refinance boom, so do be patient!  Let me know if you have any questions or if you need a great lender referral!